Revenue drivers

- advertising on the site: 1 c€ per view for each of the 10 advertising sites on the site, growth until 750k sessions per month in September 2020.

- Reports/data sales: annual turnover proportional to the number of indexed runners by betrail, 5c€ per runner.

Cost drivers

The year 2018 is a start-up exercise with a launch on the French market planned for September 2018. The year 2019 sees its operating costs developed over a full year. The main costs are initially the development costs of the site and the databases: 114k € in 2018 and 160k € / year in the following years

- Legal consulting costs and GDPR: € 35k in 2018.

- Promotion costs in France: 30k € in 2018

- Promotional partnership costs in the first 12 months of launching: € 80k including € 17k in 2018 and € 63k in 2019.

The cash burn is € 250k between June 2018 and September 2019, that is to say during the launch period on the French market.

The year 2020 does not include development costs for other European countries: Italy, Spain, Germany. These costs are estimated at 50k € per country. The implementation of this expansion will be reviewed based on our first experience in France.

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